Kern Singh, MD, is co-director of the Minimally Invasive Spine Institute at Rush and a partner at Midwest Orthopaedics at Rush, both in Chicago. He is an internationally known expert in minimally invasive spine surgery and has earned recognition for his research in less invasive treatments and motion-sparing techniques.
Here, Dr. Singh identifies the best opportunities for future growth.
Question: Where do you see the best opportunities to grow?
Dr. Kern Singh: 1. Increasing ancillary utilization will allow private practices to maintain autonomy. Orthopedists are learning quickly that relying solely upon professional revenues is not sustainable. Rather, other avenues for revenues will need to be maximized, including durable medical equipment, MRI and physical therapy.
2. Bundled Payments Care Initiative will be an area of significant growth for those practices that specialize in high volume acuity of care — total hips, knees and spine —and can provide these treatments in a cost-contained, low complication fashion. Margins are still large in BPCI, and with the correct infrastructure, this can still be a source of significant revenue for the private practitioner.
3. Social media and online marketing will continue to grow. The ability to capture large audiences with a smaller cost can allow all practices the ability to increase patient flow. Real time social media — Facebook, Instagram and search engine optimization — is key to the evolving world of healthcare marketing.
For the best insights in the future of spine and practice management from across the nation, register here for the Becker's 17th Annual Future of Spine + The Spine, Orthopedic and Pain Management-Driven ASC Conference in Chicago, June 13-15, 2019.
To participate in future spine and neurosurgeon leadership Q&As, contact Laura Dyrda at ldyrda@beckershealthcare.com.